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Swaraj Engines Ltd Board Recommends 500% Dividend

Posted On: 2019-04-22 18:20:02

The Board of Directors of Swaraj Engines Limited (SEL) today announced the audited financial results for the quarter and year ended 31 st March, 2019.

FY 2018-19

Swaraj Engines Limited posted its 3rd successive year of growth in term of engine sale volume, revenue and profit. On the sale front, SEL has attained its highest ever engines sale of 99,638 units (last year 92,022 units) for the financial year ended 31st March, 2019 - a growth 8.3%. As a result, Net Operating Revenue, by registering a growth of 13%, stood at Rs. 871.74 crores as against Rs. 771.16 crores for the last year.

The operating margin for the year as percentage to net operating revenue was 15.1 % (last year 15.8%). While Profit Before Tax (PBT) for the year reached Rs. 127.40 crores (last year Rs. 122.72 crores), the Profit After Tax (PAT), including other comprehensive income (net of tax), stood at Rs. 82.28 crores (last year Rs. 79.81 crores) - the highest ever profit for any financial year.

Q4 (January - March 19)

The engine sales of the Company at 21,767 units remained almost flat when compared to corresponding period of last year's sale of 21,780 units. Accordingly, on the net operating revenue of Rs. 191.47 crores (last year Rs. 185.26 crores), Profit Before Tax for the quarter stood at Rs. 25.76 crores (last year Rs. 27.52 crores) and Profit After Tax, including other comprehensive income (net of tax) reached Rs. 16.51 crores (last year Rs. 17.58 crores).

Dividend

The Board, while approving the annual accounts, has recommended an equity dividend of 250% (Rs.25.00 per share) for the financial year ended 31 st March, 2019. Further, considering the overall fund position of the Company, the Board, over and above the said normal dividend, has also recommended a special dividend payment of 250% (Rs. 25.00 per share), taking the total dividend to 500% (Rs. 50.00 per share) for the FY 2018-19.

Shares of SWARAJ ENGINES LTD. was last trading in BSE at Rs.1410.05 as compared to the previous close of Rs. 1408. The total number of shares traded during the day was 159 in over 30 trades.

The stock hit an intraday high of Rs. 1423 and intraday low of 1402. The net turnover during the day was Rs. 224945.


Source: Equity Bulls

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